Wednesday, May 15, 2013

Germany Q1 GDP grows 0.1%, missing expectations

LOS ANGELES (MarketWatch) -- Germany on Wednesday reported modest growth in first-quarter gross domestic product, with the Federal Statistics Office issuing a preliminary reading of 0.1% expansion on a seasonally-adjusted basis compared with the fourth quarter of 2012. The result was below economists' average growth projection of 0.3%, according to FactSet. The euroEURUSD-0.33% fell against the U.S. dollar, trading at $1.2905 compared with $1.2933 just before the release.